Fed Rates, $22 Trillion Stock Rally, OECD Warning: Eco Day

(Bloomberg) -- Welcome to Wednesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Federal Reserve policy makers will consider penciling in interest rates near zero for this year and next to help the U.S. economy recover from its coronavirus-induced recession.
• The coronavirus pandemic and a wave of social unrest across the country have put a spotlight on the deep inequality between black and white America. A shift in focus at the U.S. central bank is, too.
• A $22 trillion stock rally is raising the stakes for the V-shaped economic rebound that the market has priced in
• The coronavirus pandemic is splintering the world economy, and the extraordinary action needed means policy makers cannot risk a premature withdrawal of lifelines to businesses and the most vulnerable people, the OECD warned
• Covid-19 left a huge hole in U.S. state budgets. California already has a way to patch it
• A quiet panic is spreading in Washington and corporate boardrooms that a law taking effect in two months, which bans Huawei Technologies Co. gear, will threaten the business of government contractors
• Asia’s stabilizing financial markets are allowing the region’s central banks to exhale as currencies find their feet and investor money returns
• In Africa, a ticking debt bomb threatens global explosion

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